LSR assays confirm Chile copper system - new target to the east

Our exploration Investment Lodestar Minerals (ASX: LSR) just received the final assays from the second drill hole at one of its copper projects in Chile.

This is the project LSR drilled earlier this year - two holes into a never-before-drilled target, with visuals of copper sulphides released along the way.

Both holes hit sulphides commonly associated with copper mineralisation, and today's assays confirmed them, with multiple short zones of copper.

(source)
Copper target identified to the east

The first (western) hole returned more copper, while this second, eastern hole hit more iron and cobalt., (we covered that first hole results here).

In IOCG (Iron Oxide Copper Gold) systems, iron forms early near the hot feeder, while copper drops out later, at lower temperatures, further away.

So the feeder is showing close to this hole on the diagram, with the copper target to the east, where the structures appear to have run into more receptive volcanic rocks.

(source)

The next step for LSR here is to reprocess the geophysics with the drill data to define the next drill targets.

The drill data from these 2 holes can be used to further calibrate the geophysics completed prior ahead of potential followup drilling.

What’s next from LSR?

🔄 Chile copper drilling

LSR has two projects in Chile, Los Loros and Three Saints.

The first one LSR drilled was Three Saints - here are the milestones we are tracking for that project:

• ✅ Maiden drill hole completed (600m)
• ✅ Assay results from hole 1
• ✅ Assay results from hole 2 (Final assays received today)
• 🔲 Reprocess the geophysics with the drill data from the first 2 holes for followup drilling (source)

The next one to be drilled will be Los Loros - here are the milestones we are tracking for that project:

• 🔲 Drilling date confirmation, drill rig secured (drilling has been delayed by local weather conditions)
• 🔲 Drilling underway (expected within the next week or 2)
• 🔲 Assay results

🔄 10,000m drilling program on WA gold project

Drilling on this asset started a few weeks ago.

We are hoping to see the 250,000 to 300,000 ounce exploration target converted into a maiden resource estimate post drilling.

Here are the milestones we are tracking on that project:

• ✅ Drilling starts
• 🔄 Assay results
• 🔲 Resource estimate

🔄 Target generation on the US rare earths project

We want to see LSR continue to advance its US asset with mineralogical studies and then plan the next round of exploration.

Here are the milestones we are tracking for the US asset:

• ✅ Mapping and sampling (soil and rock chips)
• ✅ Mineralogical studies
• 🔄 Geophysics/ follow up field work
• 🔲 Drill targets confirmed